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Gold and silver hit records as investors hunt for safety (www.bbc.com)

submitted 2 weeks ago by MicroWave@lemmy.world to c/economics@lemmy.world

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The gold price has hit another record high, trading above $4,400 (£3,275) an ounce for the first time.

The price of the precious metal has risen on expectations the US central bank will cut interest rates further next year, analysts said.

Gold started the year worth $2,600 an ounce, but geopolitical tensions, the Trump tariffs and expectations of rate cuts have added to investor demand for safe haven assets, such as gold and other commodities.

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[–] Pistcow@lemmy.world 10 points 2 weeks ago (2 children)

So I bought an ounce of gold from Costco for $2800 and then later sold for $4200. Sold a bunch of silver at $50 and thought that was nuts but it keeps going up.

Im not sure how you have the stock market so over valued and precious metals through the roof at the same time. Everyone else knows its a bubble but pretend it isnt.

[–] Goldholz@lemmy.blahaj.zone 3 points 2 weeks ago

Gen Z and Millenials hurdling from one crisis to the next, not having a steady and safe past, present OR future. Now soon an complete economic collaps like the world never saw not even in the 1920s.

History repeats <3 (why did i have to be born in '03)

[–] Anarki_@lemmy.blahaj.zone 1 points 2 weeks ago (1 children)

Wait, Costco sells gold?